Corporate, Banking and Tax
The Competition Act, 2002
Act 12 of 2003 · 98 sections
Practise questions on Competition Law
Title, date and preamble
[13th January, 2003.]
An Act to provide, keeping in view of the economic development of the country, for the
establishment of a Commission to prevent practices having adverse effect on competition, to
promote and sustain competition in markets, to protect the interests of consumers and to
ensure freedom of trade carried on by other participants in markets, in India, and for matters
connected therewith or incidental thereto.
BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:—
Contents
CHAPTER I PRELIMINARY
CHAPTER II PROHIBITION OF CERTAIN AGREEMENTS, ABUSE OF DOMINANT POSITION AND REGULATION OF COMBINATIONS
Prohibition of agreements
Prohibition of abuse of dominant position
CHAPTER III COMPETITION COMMISSION OF INDIA
- 7.Establishment of Commission
- 8.Composition of Commission
- 9.Selection Committee for Chairperson and Members of Commission
- 10.Term of office of Chairperson and other Members
- 11.Resignation, removal and suspension of Chairperson and other Members
- 12.Restriction on employment of Chairperson and other Members
- 13.Administrative powers of Chairperson
- 14.Salary and allowances and other terms and conditions of service of Chairperson and other Members
- 15.Vacancy, etc., not to invalidate proceedings of Commission
- 16.Appointment of Director General, etc
- 17.Appointment of Secretary, experts, professionals and officers and other employees of Commission
CHAPTER IV DUTIES, POWERS AND FUNCTIONS OF COMMISSION
- 18.Duties and functions of Commission
- 19.Inquiry into certain agreements and dominant position of enterprise
- 20.Inquiry into combination by Commission
- 21.Reference by statutory authority
- 21A.Reference by Commission
- 22.Meetings of Commission
- 23.Distribution of business of Commission amongst Benches
- 24.Procedure for deciding a case where Members of a Bench differ
- 25.Jurisdiction of Bench
- 26.Procedure for inquiry under section 19
- 27.Orders by Commission after inquiry into agreements or abuse of dominant position
- 28.Division of enterprise enjoying dominant position
- 29.Procedure for investigation of combinations
- 29A.Issue of statement of objections by Commission and proposal of modifications
- 30.Procedure in case of notice under sub-section (2) of section 6
- 31.Orders of Commission on *** combinations
- 32.Acts taking place outside India but having an effect on competition in India
- 33.Power to issue interim orders
- 34.Power to award compensation
- 35.Appearance before Commission
- 36.Power of Commission to regulate its own procedure
- 37.Review of orders of Commission
- 38.Rectification of orders
- 39.Execution of orders of Commission imposing monetary penalty
- 40.Appeal
CHAPTER V DUTIES OF DIRECTOR GENERAL
CHAPTER VI PENALTIES
- 42.Contravention of orders of Commission
- 42A.Compensation in case of contravention of orders of Commission
- 43.Penalty for failure to comply with directions of Commission and Director General
- 43A.Power to impose penalty for non-furnishing of information on combination
- 44.Penalty for making false statement or omission to furnish material information
- 45.Penalty for [contraventions] in relation to furnishing of information
- 46.Power to impose lesser penalty
- 47.Crediting sums realised by way of penalties to Consolidated Fund of India
- 48.Contravention by companies
- 48A.Settlement
- 48B.Commitment
- 48C.Revocation of the settlement or commitment order and penalty
CHAPTER VII COMPETITION ADVOCACY
CHAPTER VIII FINANCE, ACCOUNTS AND AUDIT
CHAPTER VIIIA APPELLATE TRIBUNAL
- 53A.Appellate Tribunal
- 53B.Appeal to Appellate Tribunal
- 53C.Composition of Appellate Tribunal
- 53D.Qualifications for appointment of Chairperson and Members of Appellate Tribunal
- 53E.Selection Committee
- 53F.Term of office of Chairperson and Members of Appellate Tribunal
- 53G.Terms and conditions of service of Chairperson and Members of Appellate Tribunal
- 53H.Vacancies
- 53I.Resignation of Chairperson and Members of Appellate Tribunal
- 53J.Member of Appellate Tribunal to act as its Chairperson in certain cases
- 53K.Removal and suspension of Chairperson and Members of Appellate Tribunal
- 53L.Restriction on employment of Chairperson and other Members of Appellate Tribunal in certain cases
- 53M.Staff of Appellate Tribunal
- 53N.Awarding compensation
- 53O.Procedure and powers of Appellate Tribunal
- 53P.Execution of orders of Appellate Tribunal
- 53Q.Contravention of orders of Appellate Tribunal
- 53R.Vacancy in Appellate Tribunal not to invalidate acts or proceedings
- 53S.Right to legal representation
- 53T.Appeal to Supreme Court
- 53U.Power to Punish for contempt
CHAPTER IX MISCELLANEOUS
- 54.Power to exempt
- 55.Power of Central Government to issue directions
- 56.Power of Central Government to supersede Commission
- 57.Restriction on disclosure of information
- 58.Chairperson, Members, Director General, Secretary, officers and other employees, etc., to be public servants
- 59.Protection of action taken in good faith
- 59A.Compounding of certain offences
- 60.Act to have overriding effect
- 61.Exclusion of jurisdiction of civil courts
- 62.Application of other laws not barred
- 63.Power to make rules
- 64.Power to make regulations
- 64A.Process of issuing regulations
- 64B.Commission to issue guidelines
- 65.Power to remove difficulties
- 66.Repeal and saving